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Congressional corruption is now not shameless


Sep 24, 2022

(NewsNation) — Everyone knows Congress is corrupt — everyone knows in regards to the insider inventory buying and selling and the revolving golden door of Washington. However each infrequently, a congressman says the quiet half out loud — and albeit it’s insulting to all of us.

Meet Congressman Trey Hollingsworth representing the nice state of Indiana. He additionally sits on the Home Monetary Companies Committee that’s presupposed to oversee the large banks. Emphasis on oversee. Sitting earlier than him Wednesday had been the CEOs of JP Morgan, Wells Fargo, Financial institution of America, Citigroup, U.S. Bancorp, PNC Monetary and Truist. Mixed, they characterize roughly 75% of the U.S. banking business.

You understand, the banks that created the 2008 housing meltdown and monetary disaster. The identical banks accused of assorted indiscretions. The identical banks now elevating rates of interest and certain on the point of come after delinquent debtors.

Hollingsworth bought 5 minutes throughout an oversight listening to to ask them necessary and probing questions. He started by shouting out a workers member of his named Ruthie that was about to go work for Financial institution of America.

The kicker: Her dad already labored for the corporate.

Now that we’ve that out of the way in which, let the oversight start.

My dad as soon as advised me in case you can’t work out who the mark is on the poker desk, it’s you. Hollingsworth and Financial institution of America CEO Brian Monahan had been laughing. They get the joke.

WASHINGTON, DC – SEPTEMBER 30: Consultant Trey Hollingsworth, a Republican from Indiana, speaks at a Home Monetary Companies Committee listening to on oversight of the Treasury Division and Federal Reserve coronavirus pandemic response on Capitol Hillon September 30, 2021 in Washington, DC. The Treasury secretary this week warned in a letter to congressional leaders that her division will successfully run out of money round Oct. 18 until Congress suspends or will increase the debt restrict. (Photograph by Al Drago-Pool/Getty Pictures)

We — all of us who play by the foundations, all of us who don’t have fathers at Financial institution of America to get us jobs in Congress (to then get employed again at Financial institution of America) — are the marks on the poker desk.

Again to the panel. JP Morgan CEO Jamie Diamond was there (who controls roughly one-third of the American banking system). After Hollingsworth’s remarks about his worker going to work for Financial institution of America, Diamond turned to her and mentioned, “You need to have known as us!”

He’s in on the joke too, and the joke is the revolving door of Washington.

It used to one thing to be ashamed of. Once I lived in D.C., congressional staffers or retiring congressmen by no means bragged of the comfortable company jobs they had been heading to. They had been rightfully ashamed, or no less than just a little chagrinned to confess they bought the brand new job to curry favor with the outdated job.

To be honest it’s not Ruthie’s fault. Our workforce tracked her down and located her resume. She seems to be a tough employee. We’ve got her image however aren’t going to make use of it. We all know who she is. However embarrassing a younger lady isn’t the objective right here.

Congressman Hollingsworth is one other problem, however he isn’t embarrassed. That is enterprise as typical in Washington.

His workplace didn’t return repeated calls and emails for remark.

Hollingsworth is aware of the sport: Ship some staffers to Financial institution of America, don’t do any actual oversight, and a comfortable lobbying job awaits when he leaves Congress.

Monahan loves it. If there may be ever an issue with the oversight committee, he may have Ruthie name her outdated mates on the committee workers. Possibly Ruthie will return to Congress working for another person on the oversight committee — then come again to Financial institution of America. He’s using excessive.

Repeated emails to Financial institution of America additionally went unanswered. They actually don’t care that we all know — or are reporting on it.

Diamond went together with the entire thing; can’t blame him. Don’t wish to rock the boat. However don’t fear, he is aware of how the sport is performed and isn’t in the least embarrassed by it. The reality is there are a thousand Ruthies in Congress and in company America. What’s most embarrassing is no person cares anymore.

It’s been 48 hours since they mentioned the quiet half out loud and no person seen. Not the media. Not the Home Ethics Committee. Not even the watchdog teams.

We, people who play by the foundations, are the marks. We’re the suckers. It’s worse that these choosing our pockets aren’t even embarrassed anymore. They’re laughing.

The views expressed on this article are these of the creator, and never of NewsNation.

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